2023-01-012023-12-312023-12-31false11368401FLEXIPHARM AUSTRADING LIMITED2024-03-2046180iso4217:GBPxbrli:pure113684012023-01-01113684012023-12-31113684012023-01-012023-12-31113684012022-01-01113684012022-12-31113684012022-01-012022-12-3111368401bus:SmallEntities2023-01-012023-12-3111368401bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3111368401bus:FullAccounts2023-01-012023-12-3111368401bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111368401core:WithinOneYear2023-12-3111368401core:AfterOneYear2023-12-3111368401core:WithinOneYear2022-12-3111368401core:AfterOneYear2022-12-3111368401core:ShareCapital2023-12-3111368401core:SharePremium2023-12-3111368401core:RevaluationReserve2023-12-3111368401core:OtherReservesSubtotal2023-12-3111368401core:RetainedEarningsAccumulatedLosses2023-12-3111368401core:ShareCapital2022-12-3111368401core:SharePremium2022-12-3111368401core:RevaluationReserve2022-12-3111368401core:OtherReservesSubtotal2022-12-3111368401core:RetainedEarningsAccumulatedLosses2022-12-3111368401core:LandBuildings2023-12-3111368401core:PlantMachinery2023-12-3111368401core:Vehicles2023-12-3111368401core:FurnitureFittings2023-12-3111368401core:OfficeEquipment2023-12-3111368401core:NetGoodwill2023-12-3111368401core:IntangibleAssetsOtherThanGoodwill2023-12-3111368401core:ListedExchangeTraded2023-12-3111368401core:UnlistedNon-exchangeTraded2023-12-3111368401core:LandBuildings2022-12-3111368401core:PlantMachinery2022-12-3111368401core:Vehicles2022-12-3111368401core:FurnitureFittings2022-12-3111368401core:OfficeEquipment2022-12-3111368401core:NetGoodwill2022-12-3111368401core:IntangibleAssetsOtherThanGoodwill2022-12-3111368401core:ListedExchangeTraded2022-12-3111368401core:UnlistedNon-exchangeTraded2022-12-3111368401core:LandBuildings2023-01-012023-12-3111368401core:PlantMachinery2023-01-012023-12-3111368401core:Vehicles2023-01-012023-12-3111368401core:FurnitureFittings2023-01-012023-12-3111368401core:OfficeEquipment2023-01-012023-12-3111368401core:NetGoodwill2023-01-012023-12-3111368401core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111368401core:ListedExchangeTraded2023-01-012023-12-3111368401core:UnlistedNon-exchangeTraded2023-01-012023-12-3111368401core:MoreThanFiveYears2023-01-012023-12-3111368401core:Non-currentFinancialInstruments2023-12-3111368401core:Non-currentFinancialInstruments2022-12-3111368401dpl:CostSales2023-01-012023-12-3111368401dpl:DistributionCosts2023-01-012023-12-3111368401core:LandBuildings2023-01-012023-12-3111368401core:PlantMachinery2023-01-012023-12-3111368401core:Vehicles2023-01-012023-12-3111368401core:FurnitureFittings2023-01-012023-12-3111368401core:OfficeEquipment2023-01-012023-12-3111368401dpl:AdministrativeExpenses2023-01-012023-12-3111368401core:NetGoodwill2023-01-012023-12-3111368401core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111368401dpl:GroupUndertakings2023-01-012023-12-3111368401dpl:ParticipatingInterests2023-01-012023-12-3111368401dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3111368401core:ListedExchangeTraded2023-01-012023-12-3111368401dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3111368401core:UnlistedNon-exchangeTraded2023-01-012023-12-3111368401dpl:CostSales2022-01-012022-12-3111368401dpl:DistributionCosts2022-01-012022-12-3111368401core:LandBuildings2022-01-012022-12-3111368401core:PlantMachinery2022-01-012022-12-3111368401core:Vehicles2022-01-012022-12-3111368401core:FurnitureFittings2022-01-012022-12-3111368401core:OfficeEquipment2022-01-012022-12-3111368401dpl:AdministrativeExpenses2022-01-012022-12-3111368401core:NetGoodwill2022-01-012022-12-3111368401core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3111368401dpl:GroupUndertakings2022-01-012022-12-3111368401dpl:ParticipatingInterests2022-01-012022-12-3111368401dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3111368401core:ListedExchangeTraded2022-01-012022-12-3111368401dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3111368401core:UnlistedNon-exchangeTraded2022-01-012022-12-3111368401core:NetGoodwill2023-12-3111368401core:IntangibleAssetsOtherThanGoodwill2023-12-3111368401core:LandBuildings2023-12-3111368401core:PlantMachinery2023-12-3111368401core:Vehicles2023-12-3111368401core:FurnitureFittings2023-12-3111368401core:OfficeEquipment2023-12-3111368401core:AfterOneYear2023-12-3111368401core:WithinOneYear2023-12-3111368401core:ListedExchangeTraded2023-12-3111368401core:UnlistedNon-exchangeTraded2023-12-3111368401core:ShareCapital2023-12-3111368401core:SharePremium2023-12-3111368401core:RevaluationReserve2023-12-3111368401core:OtherReservesSubtotal2023-12-3111368401core:RetainedEarningsAccumulatedLosses2023-12-3111368401core:NetGoodwill2022-12-3111368401core:IntangibleAssetsOtherThanGoodwill2022-12-3111368401core:LandBuildings2022-12-3111368401core:PlantMachinery2022-12-3111368401core:Vehicles2022-12-3111368401core:FurnitureFittings2022-12-3111368401core:OfficeEquipment2022-12-3111368401core:AfterOneYear2022-12-3111368401core:WithinOneYear2022-12-3111368401core:ListedExchangeTraded2022-12-3111368401core:UnlistedNon-exchangeTraded2022-12-3111368401core:ShareCapital2022-12-3111368401core:SharePremium2022-12-3111368401core:RevaluationReserve2022-12-3111368401core:OtherReservesSubtotal2022-12-3111368401core:RetainedEarningsAccumulatedLosses2022-12-3111368401core:NetGoodwill2022-01-0111368401core:IntangibleAssetsOtherThanGoodwill2022-01-0111368401core:LandBuildings2022-01-0111368401core:PlantMachinery2022-01-0111368401core:Vehicles2022-01-0111368401core:FurnitureFittings2022-01-0111368401core:OfficeEquipment2022-01-0111368401core:AfterOneYear2022-01-0111368401core:WithinOneYear2022-01-0111368401core:ListedExchangeTraded2022-01-0111368401core:UnlistedNon-exchangeTraded2022-01-0111368401core:ShareCapital2022-01-0111368401core:SharePremium2022-01-0111368401core:RevaluationReserve2022-01-0111368401core:OtherReservesSubtotal2022-01-0111368401core:RetainedEarningsAccumulatedLosses2022-01-0111368401core:AfterOneYear2023-01-012023-12-3111368401core:WithinOneYear2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:CostValuation2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3111368401core:Non-currentFinancialInstrumentscore:CostValuation2023-12-3111368401core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-3111368401core:Non-currentFinancialInstrumentscore:CostValuation2022-12-3111368401core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-3111368401core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-3111368401bus:Director12023-01-012023-12-3111368401bus:Director22023-01-012023-12-31

FLEXIPHARM AUSTRADING LIMITED

Registered Number
11368401
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FLEXIPHARM AUSTRADING LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Michael Clark
Andre Vlok

Registered Address

Ati House
6 Boston Drive
Bourne End
SL8 5YS

Registered Number

11368401 (England and Wales)
FLEXIPHARM AUSTRADING LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets68,3124,570
8,3124,570
Current assets
Stocks91,198,302996,299
Debtors10734,679346,746
Cash at bank and on hand819,543671,294
2,752,5242,014,339
Creditors amounts falling due within one year11(1,832,270)(1,119,252)
Net current assets (liabilities)920,254895,087
Total assets less current liabilities928,566899,657
Net assets928,566899,657
Capital and reserves
Called up share capital100100
Profit and loss account928,466899,557
Shareholders' funds928,566899,657
The financial statements were approved and authorised for issue by the Board of Directors on 20 March 2024, and are signed on its behalf by:
Michael Clark
Director
Registered Company No. 11368401
FLEXIPHARM AUSTRADING LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts, rebates and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Property, plant and equipment policy
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. The estimated useful economic lives are as follows:

Straight line (years)
Office Equipment2
Stocks policy
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition, and are stated after any provision for potential write-offs.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Valuation of financial instruments policy
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
5.Employee information
The aggregate payroll costs incurred during the year were: 2023 2022 £ £ Wages and salaries 180,000 180,000 Social security costs 19,554 24,503 ________ ________ 199,554 204,503 ________ ________

20232022
Average number of employees during the year11
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 2312,72112,721
Additions10,33310,333
Disposals(4,281)(4,281)
At 31 December 2318,77318,773
Depreciation and impairment
At 01 January 238,1518,151
Charge for year5,5795,579
On disposals(3,269)(3,269)
At 31 December 2310,46110,461
Net book value
At 31 December 238,3128,312
At 31 December 224,5704,570
7.Description of nature of transactions and balances with related parties
During the year the company entered into the following transactions with related parties: Transaction value (net) Balance owed by/( to) 2023 2022 2023 2022 £ £ £ £ Phebra Holdings Pty Limited 976,254 2,246,422 (215,670) (887,269)
8.Dividends proposed and payable

2023

2022

££
Dividends Paid500,000-
Total500,000-
The directors declared and paid a final dividend for the year of £500,000 (2022: £NIL) being £5,000 (2022: £NIL) per ordinary share in December 2023.
9.Stocks
Stocks represent finished goods less provision for potential write-offs.

2023

2022

££
Finished goods1,198,302996,299
Total1,198,302996,299
10.Debtors

2023

2022

££
Trade debtors / trade receivables722,545275,914
Other debtors4,0844,084
Prepayments and accrued income8,05066,748
Total734,679346,746
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,373,266917,701
Taxation and social security441,351184,147
Accrued liabilities and deferred income17,65317,404
Total1,832,2701,119,252
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.